While acknowledging that the Obama-McConnell tax compromise is far from “perfect,” Sen. John Thune (R., S.D.) announced on the floor of the Senate moments ago that he would support it.
“It’s easy to stand on the sidelines and criticize this proposal, and maybe it’s political expedient,” Thune said, arguing, in what could be interpreted as a thinly-veiled criticism of Sen. Jim DeMint (R., S.C.) and others who have expressed strong reservations about the compromise, that “advocating against this tax proposal is advocating for a tax increase.”
Thune said he’d prefer to see a bill written in January, after a newly strengthened Republican caucus is sworn in, but that that was a “luxury” the Senate doesn’t have.
Citing recent polls showing large majorities of American supporting tax deal, Thune called it an “empirical fact” that marginal rate cuts generate not less, but more revenue. He said that he would go forward with a suspension motion to consider his amendment to pay for the compromise’s unemployment benefits extension with unspent discretionary funds, though he admitted it would likely fail.